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Türkiye’s state-owned lender VakifBank has obtained a $300 million loan from the Asian Infrastructure Investment Bank (AIIB) with a 10-year maturity, the bank announced on Monday.
The loan represents VakifBank’s first-ever funding transaction with AIIB and forms part of the bank’s broader strategy to diversify long-term funding from multilateral development partners.
According to the bank, the new AIIB loan will be used to support the reconstruction of housing and social infrastructure in earthquake-affected regions, as well as to meet the financing needs of small and medium-sized enterprises, or SMEs.
The bank noted that the funds are expected to support ongoing rebuilding efforts in Türkiye’s southern provinces, where large-scale damage from the Feb. 6, 2023 earthquakes created substantial demand for long-term credit.
VakifBank said the loan will also help channel resources to SMEs involved in renewable energy, energy efficiency, and circular-economy investments.
Vakifbank General Manager Abdi Serdar Ustunsalih said the deal demonstrates continued confidence in Türkiye’s economy. He stated that the bank has been using "all available instruments to bring international funds into the country," adding that the first transaction with AIIB serves as "an important step that diversifies and deepens our partnerships."
Ustunsalih recalled that VakifBank signed a 4 billion yuan ($568.12 million) loan agreement with the China Development Bank in May, followed by the approval of the €1.5 billion ($1.76 billion) World Bank facility.
"While we direct long-term and affordable international resources to the real sector, we will continue to prioritize productivity-focused investment loans that offer the potential to generate additional foreign-currency income," he said.
Founded in 1954, VakifBank is one of the leading state-owned banks in Türkiye with total assets topping $120.82 billion as of the third quarter of 2025.
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